Making good on her pledge to pursue acquisitions, Marissa Mayer announced the purchase of mobile application developer Stamped for an undisclosed price, the first deal since she took the job as chief executive of Yahoo Inc. (Nasdaq: YHOO).
The New York-based startup is expected to assist Yahoo when it comes to interacting with content users. Stamped currently runs a website and mobile application for customers to make online recommendations.
The deal emphasizes the importance of growing on a mobile platform.
"Mobile is at the center of how we connect with people, consume information, and pass the time," says Adam Cahan, Yahoo's senior vice president of emerging products and technology, vowing to make mobile a focus for the Sunnyvale, Calif.-based Internet company.
Two of Stamped's founders are former Google Inc. (Nasdaq: GOOG) employees. Mayer had spent 13 years as a key executive at Google, before becoming CEO of Yahoo in July.